Normally when things collapse they wiggle around for a while, rally and then they test the bottom, they test the lows again a few days, weeks or months later. And that may be what crude oil is doing now.
I will point out that I keep reading all sorts of bad news about oil but it does not go down to new lows. In my experience when there is a lot of bad news and something does not go down anymore, it means the bottom is forming.
Jim Rogers is a legendary investor that co-founded the Quantum Fund and retired at age thirty-seven. He is the author of several investing books and also a renowned financial commentator worldwide famous for his contrarian views on financial markets.